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Y Combinator Pays StartUp Totalis In Stablecoins
YC has announced that they have successfully invested into one of their latest batch companies directly through the use of stablecoins.
Stablecoins are being used in investment settings and to fundraise startups quickly (Engin Akyurt / Unsplash)
Y Combinator invests $500K in stablecoins.
YC has doubled down on an earlier public commitment to helping the adoption of stablecoins by revealing that they have funded Totalis - one of their latest batch members - directly via stablecoins.
The entire process was finalised in minutes, with 3 separate stablecoin transfers completed via USDC stablecoin. YC had sent 2 large balance transfers from their Coinbase wallet to Totalis, who is a user of Ramp's recently announced stablecoin accounts.
Totalis is an onchain-native startup tackling the new sector of prediction markets, so it makes sense for the team to actively send and receive funds in stablecoins as that is how users will be able to trade via their platform.
Although they are the first participant of YC's newly implemented policy, there is an expectation that non-crypto companies will soon also start to receive venture funding in stablecoins.
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